How is the Magnolia, Seattle real estate market right now?
From September 19 through October 2, 28 new Magnolia homes came on the market, 8 went pending and 11 sold. The 11 closed homes sold for an average of 99.2% of their final asking price. Here’s what those numbers mean for Magnolia homeowners and buyers.
MAGNOLIA SEATTLE REAL ESTATE: BY THE NUMBERS
New Magnolia listings ranged from $379,000 to $8.5 million, with a median asking price of approximately $1.28 million.
The 11 Magnolia homes that closed during this period had a median sale price of $1.34 million and sold for an average of 99.2% of their final list price.
Magnolia has a wide mix of homes, from condos and townhomes to larger single-family and luxury properties. That means neighborhood-wide numbers are useful, but the homes that compete directly with yours matter most.
ARE MORE HOMES COMING ON THE MARKET IN MAGNOLIA?
Yes. Twenty-eight new listings came to market during this two-week period while eight homes went pending. Buyers had more new choices than homes entering contract during the period.
For Magnolia sellers, that makes pricing and presentation especially important. Buyers can compare your home with more alternatives before deciding which property deserves an offer.
ARE MAGNOLIA HOMES SELLING CLOSE TO ASKING PRICE?
Recent closings were still landing close to the final asking price overall. The 11 homes that closed during this reporting period sold for an average of 99.2% of final list price.
That does not mean every Magnolia home will perform the same way. Some sold above asking and others below. The useful takeaway is that buyers are still willing to act when a home is positioned well against its direct competition.
WHAT DO MAGNOLIA HOME PRICES LOOK LIKE RIGHT NOW?
The range is wide. New listings during this period started at $379,000 and reached $8.5 million.
That spread is a reminder that there is not one Magnolia real estate market. A condo, a traditional single-family home and a waterfront estate can attract very different buyers. For a homeowner thinking about selling, the most useful comparison is the group of homes a buyer would realistically consider alongside yours.
WHAT I’M SEEING IN MAGNOLIA
Buyers have more to choose from, but recent closings show that they are still willing to pay close to asking price for the right home. The interesting part of this market is not one neighborhood-wide number. It is how quickly buyers respond to the best-positioned homes in each price range and property type.
This is only a two-week snapshot, so I would not call it a long-term trend yet. What caught my attention is the gap between 28 new listings and 8 homes going pending. I’ll be watching whether that continues in the next Magnolia market update.
FEATURED MAGNOLIA HOME
2555 Magnolia Boulevard W · $4,168,000
The views of Puget Sound and the Olympic Mountains caught my eye. Large windows and a covered terrace make the setting feel like part of the home.
Listed by John Kritsonis and Mariah Van Halm, Windermere Real Estate East, Inc.
Instagram: @kritsonislindorgroup
WHAT DOES THIS MEAN IF YOU’RE SELLING A HOME IN MAGNOLIA?
Magnolia buyers have more options right now, but recent sales show they are still willing to act when a home is priced and presented well. For sellers, the most useful question isn’t simply what Magnolia homes are selling for—it’s how your home compares with the properties a buyer would consider alongside it.
Curious where your home fits within the current Magnolia market? I’m happy to give you a more specific read.